When Apple jumped into the smartwatch market, it did so with a variety of different competing products already on the map. But that doesn’t seem to have slowed things down at all.
Following Apple’s third quarter 2018 earnings report, the company’s Chief Financial Officer Luca Maestri told FT that the wearables revenue up to this point has already seen 60% growth in revenue terms. Moreover, when looking over the last four quarters, the wearables revenue has already reached $10 billion.
Maestri added that this is a product category that “essentially didn’t exist three years ago”, driving home how impressive the market has been for Apple’s smartwatch.
“Apple’s wearables business, which includes Apple Watch and AirPods, saw 60 per cent revenue growth in the June quarter, Mr Maestri told the FT, bringing its total sales over the last four quarters to more than $10bn. “This is a product category that essentially didn’t exist three years ago,” he said.”
Considering that Apple is generally pretty cagey about specifics in certain numbers, with the Apple Watch not getting the distinct breakdown that other devices do. So it’s good to finally get some information from the company, even if it isn’t completely breaking things down just yet. Of course, the “Other Products” is filled with a variety of devices, including the HomePod, the AirPods, Apple Watch, and more.
The Other Products category rose 37%, according to Apple’s latest quarterly earnings report, jumping up to $3.7 billion.